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LegalProduct TermsRequest for Quote

Request for Quote

Request for Quote

Last updated: 2025-02-10

  1. General

  1. These Product Terms for the Request For Quote Service (“RFQ Service”) shall be supplemental to and is read together with the Terms of Service and Additional Documents. The Product Terms, Terms of Service and Additional Documents constitute a legally binding agreement between you and FiveWest.
  2. This version of the Product Terms for the RFQ Service shall replace and supersede any previous agreements between us with respect to the RFQ Service that may have been accepted, or otherwise made available on, the Site or Portal. By utilising the RFQ  Service, you agree that you have read, understood and accepted the Product Terms and agree to be bound and act in accordance with them.
  3. FiveWest may amend these Terms from time to time without providing any prior notice. Therefore, it is your responsibility to ensure that you regularly check the Site or Portal to determine if the Terms have been updated.
  4. FiveWest will do their best to notify you of any changes to the Terms that will materially affect your rights and obligations, however we cannot provide such guarantee.
  5. The continued use of the RFQ Service after any amendment to the Terms constitutes your acceptance of such Terms as modified by such amendment. If you do not accept the Terms or any amendment thereof, you must immediately stop using the RFQ Service and notify FiveWest accordingly.

  1. The Service

  1. The RFQ Service allows you to convert from a supported Fiat/crypto asset to another supported Fiat/crypto asset (which includes stablecoins).
  2. In order to utilise the RFQ Service, you are required to hold a positive (supported fiat or crypto asset) balance in your FiveWest Wallet.
  3. You will be required to accept the quote that appears on the FiveWest Portal within 10 (ten) seconds. The aforementioned time period allocated may be changed from time to time at FiveWest’s discretion. Furthermore, the time period allocated for you to accept a quote may differ depending on the asset. Once you have accepted the quote, the trade will be immediately processed and will reflect in your FiveWest Wallet. No trades may be reversed by the client after acceptance of the quote.
  4. FiveWest is entitled to determine the pricing methodology of all assets and pairs at its sole discretion and this methodology may differ between assets and may be changed from time to time.

  1. Trade and Daily Limits

  1. FiveWest is entitled to set a per-trade limit and daily trade limit in its sole discretion in respect of the RFQ  Service. These limits may be changed from time to time by FiveWest without providing you with prior notice.
  2. In the event that you wish to exceed the trade limit or the daily limit prescribed by FiveWest, you will be required to contact FiveWest directly in order to obtain the necessary approval. FiveWest has in its sole discretion whether to allow you to exceed the limits in place for that specific trade. If FiveWest allows you to exceed the limit, this exception is trade specific and does not form a precedence for any future trades.  

  1. Risk Warning

  1. It is imperative that you review the Risk Warnings as contained on FiveWest’s website, which may be updated and amended from time to time.
  2. Volatility and Market Risk: Cryptocurrency markets are known for their extreme volatility. Prices of cryptocurrencies can experience significant changes within short periods. Market risks are inherent and sudden price movements can result from various factors including regulatory change, technological developments, market sentiment and macroeconomic events.
  3. Regulatory and Legal Risks: The regulatory landscape for cryptocurrencies is subject to change. Regulatory interventions such as bans, restrictions or increased scrutiny could impact the availability, trading and value of cryptocurrencies. There may also be additional amendments to the applicable laws which may impact the provision of the Services.
  4. Technology and Security Risks: Cryptocurrencies rely on blockchain technology, which is susceptible to technological vulnerabilities, hacking, cybersecurity threats.
  5. FiveWest’s Technological Security: FiveWest is committed to maintaining security and has implemented industry standard protection when providing you with the RFQ  Service.
  6. Past performance is not indicative of future results. Historical performance of trading strategies should not be considered a guarantee of future results.The cryptocurrency market’s behaviour may not accurately predict its future performance.
  7. It is essential to assess your own financial situation and risk tolerance before utilising the RFQ Service.

  1. Limitation of Liability

  1. You acknowledge and agree that the use of the RFQ Service is entirely at your own risk and accordingly, you assume full responsibility and risk of loss resulting from or relating to such use.  
  2. In no event shall FiveWest, its operating entities or any other affiliates (including their respective directors, members, employees or agents) be liable to you for any direct, indirect, special, consequential or punitive damages or any other damages of any kind, including but not limited to loss of profit, loss of revenue, loss of business, loss of opportunity, loss of data, whether in contract, delict or otherwise:
  1. arising out of or in any way connected with your use of, inability to use, or unavailability of the FiveWest RFQ  Service and/or your FiveWest Account;
  2. arising out of or in any way connected to or resulting from any reliance upon any information received from FiveWest, or that result from mistakes, omissions, interruptions, deletion of files or email, errors, defects, viruses, delays in operation or transmission or any failure of performance, whether or not resulting from a force majeure event, communications failure, theft, destruction or unauthorised access to FiveWest’s records, programmes or services;
  3. for any damages or loss of any kind suffered by you as a result of a roll back trade whereby FiveWest reverses a trade/s due to the fact that you have manipulated the trade/s or there were multiple trades or for any other reasonable reason determined by FiveWest for such reversal. FiveWest has the sole and reasonable discretion to reverse a trade, without providing you with reasons thereof;  
  4. as a result of an action or inaction caused by the Ceffu Platform or another third party utilised to provide you with the RFQ  Service. You indemnify and hold FiveWest harmless in the event that Ceffu Platform or any third party utilised in providing you the RFQ  Service is liquidated, placed in business rescue or curatorship or any other similar event.
  1. FiveWest relies on API in order to provide you with the rate quoted. In the event that there is a bona fide error with the API rates, FiveWest reserves the right to unwind the trade.
  2. In no event shall FiveWest’s total liability (if any) to you for all claims arising out of or as a result of this agreement exceed (in aggregate) the fees earned by FiveWest in connection with your use of your FiveWest Account in the six month period immediately preceding the event giving rise to the claim for liability.

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